Cross-Country Growth Empirics and Model Uncertainty: An Overview

Abstract: The aim of this paper is to provide an overview of empirical cross-country growth literature. The paper begins with describing the basic framework used in recent empirical crosscountry growth research. Even though this literature was mainly inspired by endogenous growth theories, the neoclassical growth model is still the workhorse for cross-country growth empirics. The second part of the paper emphasises model uncertainty, which is indeed immense but generally neglected in the empirical cross-country growth literature. The most outstanding feature of the literature is that a large number of factors have been suggested as fundamental growth determinants. Together with the small sample property, this leads to an important problem: model uncertainty. The questions which factors are more fundamental in explaining growth dynamics and hence growth differences are still the subject of academic research. Recent attempts based on general-to-specific modeling or model averaging are promising but have their own limits. Finally, the paper highlights the implications of model uncertainty for policy evaluation.

Angaben zum Objekt

• Standort: Deutsche Nationalbibliothek Frankfurt am Main
• Umfang: Online-Ressource
• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Cross-Country Growth Empirics and Model Uncertainty: An Overview ; volume:6 ; number:1 ; year:2012 ; extent:71 ; Economics / Journal articles. Journal articles ; 6, Heft 1 (2012) (gesamt 71)

Beteiligte, Orts- und Zeitangaben

• Urheber: Ulaşan, Bülent

Weitere Informationen

• DOI: 10.5018/economics-ejournal.ja.2012-16
• URN: urn:nbn:de:101:1-2412121805554.531323424083
• Rechteinformation: Open Access; Der Zugriff auf das Objekt ist unbeschränkt möglich.
• Letzte Aktualisierung: 15.08.2025, 07:37 MESZ